Solar Panel Cost Guide in Lyman, SC (2024 Update)
- Lyman Solar Installation Cost: $19,511
- 25-Year Savings: $30,032
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Lyman
Here’s how much it might cost to make the switch to solar in Lyman.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lyman, the average cost of solar panels is 3 per watt.Using this figure, a typical 8.1-kW system would cost about $19,511 before the 0 federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely differ based on your specific situation and what company you want to go with.Despite the significant upfront cost, the average Lyman homeowner can save about $21,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a vetted solar company in Lyman for a personalized quote.
Solar savings over time in Lyman
| Year | Return on Investment |
|---|---|
| 1 years | $-18,026 |
| 3 years | $-15,055 |
| 5 years | $-12,084 |
| 7 years | $-9,114 |
| 9 years | $-6,143 |
| 11 years | $-3,173 |
| 13 years | $-202 |
| 15 years | $2,768 |
| 17 years | $5,739 |
| 19 years | $8,709 |
| 21 years | $11,680 |
| 23 years | $14,650 |
| 25 years | $17,621 |
Top Solar Installers in Lyman
Many homeowners opt for a solar installer since trying to install solar panels yourself can be a lot of work. The expertise that solar companies provide can be valuable as well, especially if you don’t quite know what type of solar equipment you need.
If you’d like to start using solar energy but still aren’t sure which solar panel installer to go with, here are our recommendations for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Lyman
Factors that Affect Solar Panel Costs in Lyman
The cost of installing a solar system in Lyman can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,450. The model of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Lyman offer solar loans, which reduce the initial cost of installing solar panels.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Lyman, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that provides the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.59 | $15,070 | $18,658 | 11.2 years |
| 8 kW | $3.52 | $19,706 | $25,264 | 11.0 years |
| 10 kW | $3.45 | $24,150 | $32,062 | 10.7 years |
| 12 kW | $3.38 | $28,400 | $39,055 | 10.5 years |
| 14 kW | $3.31 | $32,458 | $46,240 | 10.3 years |
| 16 kW | $3.24 | $36,322 | $53,618 | 10.1 years |
| 18 kW | $3.17 | $39,992 | $61,190 | 9.9 years |
| 20 kW | $3.11 | $43,470 | $68,955 | 9.7 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Lyman, SC Solar Cost FAQs
What is the average cost of installing solar panels in Lyman?
The average cost of solar panels in Lyman is about $17,250 for a 5-kW system and $34,500 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Lyman?
You can’t get solar panels for free in Lyman. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Does Lyman have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.